Cabinet approves Public Procurement Bill | SupportBiz

In Brief

Cabinet approves Public Procurement Bill

 
The cabinet has approved the Public Procurement Bill to ensure greater transparency and accountability in government purchases.

The bill will be tabled when the budget session of parliament resumes April 24, Human Resource Development Minister Kapil Sibal told reporters after a cabinet meeting chaired by Prime Minister Manmohan Singh.

"The bill would create a statutory framework for public procurement which will provide greater accountability, transparency and enforceability of the regulatory framework," Sibal added.

He said the bill seeks to regulate procurement by promoting competition, enhancing efficiency and economy, safeguarding integrity in the procurement process and enhancing public confidence in public procurement.

The bill builds on national and international experience and best practices, an official statement said.